Weighing up costs and benefits of an SMSF
For many people, the idea of managing and investing your own retirement savings is very appealing.
But there is ongoing debate over whether running your own self-managed super fund (SMSF) is cost effective. So, what are the arguments for and against having your own fund?
Is a self managed super fund (SMSF) right for you?
As anyone who has joined the weekend crowd at Bunnings knows, Australians love DIY. And that same can-do spirit helps explain why 1.1 million Aussies choose to take control of their retirement savings with a self-managed superannuation fund (SMSF).
Tax-effective ways to boost your super
After a year when the average superannuation balance fell slightly or, at best, moved sideways, the summer holidays could be a good opportunity to think about ways to rebuild your savings while being mindful of tax.
SMSFs on the defensive: Is it time to revisit your strategy?
Self-managed super funds (SMSFs) have had a challenging year, with COVID-19 linked market uncertainty affecting income and returns. But SMSF trustees haven’t been sitting on their hands.
Is your super fund balanced?
The recent sell-off on global sharemarkets due to the economic impact of COVID-19 has highlighted the risks of depending too heavily on a single asset class. Even before the current crisis, the ATO was concerned about a minority of self-managed superannuation funds (SMSFs) with up to 90 per cent of their money in a single asset class.
Bankruptcy: Not the end of tax considerations
With personal debt on the rise, many Australians are struggling with their finances. In most cases, a repayment plan can be worked out to get you back in the black. If that’s not feasible, another solution can be to declare bankruptcy, but this can have serious implications if you are running your own small business. […]
Maddern Financial Advisers – ifa Excellence Awards 2018
Maddern Financial Advisers are pleased to announce that we have been nominated for two awards in one of the financial industry’s most prestigious awards. As a local independent financial advising and accounting firm based in Melbourne we are in the running to take out an award at the independent financial advice event of the year. […]
Superannuation and inheritance: making your wishes known
People often think their superannuation will be treated as part of their estate when they die and distributed according to their Will, but that’s not the case. Unless you have nominated your beneficiaries, the decision as to who receives your super is in the hands of the trustees of your fund. When that happens, the […]
How to avoid common SMSF mistakes
Running your own self-managed super fund can be time-consuming, but it’s about to get a little easier thanks to a change announced in the May 2018 Budget. From 1 July 2019 SMSFs will be able to move to three-yearly audits if they have three consecutive clear audit reports and lodged their annual returns on time. […]
Tax traps for expats
Every year more Australians head overseas to work for an extended period. While it can be great fun and a boost for your career, it’s important to remember the tax man will be taking a keen interest in your offshore activities. Whether it is the capital gain on your former home, where your super contributions […]